Europe's Economy
-- Does It Need a Stimulus?

Updated Oct. 11, 2001 1:19 a.m. ET

By James Sproule. Mr. Sproule is a visiting fellow at the London School of Economics and the Centre for Policy Studies in London.

The first reaction of stock markets to the tragedy of September 11 was a predictable and sudden fall. In some cases -- airlines, some insurers and investment banks -- this reaction was fair enough. But it did not take long for a more reasoned outlook to reassert itself on the wider market. Stock markets...